UT AUSTIN INVESTS IN AUSTIN-BASED BATTERY TECH COMPANY, GROUP1
AUSTIN, Texas, Aug. 29, 2023 /PRNewswire/ -- Discovery to Impact at The University of Texas at Austin has invested $250,000 in Group1, a UT Austin-affiliated startup aiming to revolutionize the energy industry by developing Potassium-ion battery (KIB) technology. The investment will help Group1 increase its workforce, expand production capacity of their product potassium cathode material, Kristoniteā¢, to pilot-scale, and forge business partnerships with Tier1 cell and automotive manufacturers that wish to establish a domestic, "lithium alternative" solution.
- AUSTIN, Texas, Aug. 29, 2023 /PRNewswire/ -- Discovery to Impact at The University of Texas at Austin has invested $250,000 in Group1, a UT Austin-affiliated startup aiming to revolutionize the energy industry by developing Potassium-ion battery (KIB) technology.
- The fund invests in the most promising new startups built on university-owned intellectual property emerging from UT Austin's $845 million research enterprise.
- "We are proud to be based in the battery capital of the world, Austin, Texas, and to further strengthen our ties with world renowned institution such as UT Austin."
- Group1 has further developed KIB core technology and has established a world leading IP position, which includes exclusive license from UT Austin.